second largest economy is reopening. >> thank you for joining us. f troop, underrated show thanks, guy. pfizer underrated pipeline and i say gossing higher. >> thank you for watching "fast money. "mad money" with jim cramer, philadelphia native, eagles fan, starts right now my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain you but to educate and teach you. so call me at 1-800-743-cnbc or tweet yes @jimcramer i keep telling you in this

market good news is bad news and sometimes bad news is always just plain bad news. and that's how you geta day like today where the dow plummets 349 points. at one point much uglier s&p plummets and the and the nasdaq dives 2.18% on strong economic data because strong data means the fed will need to keep tightening and keep tightening aggressively on top of that we got a very, very problematic earnings report from micron, the big commodity chipmaker with far-reaching markets and that is just plain negative too remember what's supposed to happen let's step back. what do we want? we have america's largest service economy. we're not manufacturing, we are a service economy. we're a spending economy the fed wants to slow that spending down. but when it sees we had 3.2% gdp growth last quarter, that was revised up from 2.9% that was this morning. and we get fewer than expected jobless claims, again, this morning. it shows that jay powell's war

on inflation has still got much longer to go than we thought people president spending less they're spending more. mortgage rates are going lower too. that's not supposed to happen when the fed wants them higher, at least a slowdown in the purchase of housing. that's when all this seemingly good news to the economy turned out to be plain bad. >> sell sell sell! >> for the market. but when it comes to individual companies' bad news it's just plain -- >> the house of pain >> -- bad news, with you brings me to micron the chipmaker that reported a very -- okay, it was an awful number it also made it clear that 2023 will be ugly too next year already. because things are as bad as they were now -- you have to go back to 2008 to see how bad. you never want to hear a comparison to 2008 this is a really important company. micron's chips are used in cell phones, computers, data centers, all three end markets are as weak as they've been in ages even the third data centers,

because we've got too many pcs, too many phones and now too many data warehouses for the cloud. the demand just isn't as great as these companies thought in part because in the case of data centers which have been a booming market a lot of the problems are in gaming and advertising. the customers just don't need more space this wouldn't be so bad except technology is so huge. a lot of people don't understand the way the stock market works it's a breakdown in how much the s&p a sector is. right now 26% of the s&p 500 is in tech. a decade ago 'twas only 19%. back in 1995 it was less than 10%. these days gigantic companies that control this market in a lot of ways. even after an awful year for the sector this sector's still too big. so when a good company like micron tells us that every key area's weaker than we expected it reverberates throughout the whole market because the issue isn't micron a lot of the problems it has are its competitor samsung from

korea selling below market prices really wrecking any hope for a comeback even if this hideous quarter from micron would be something we could handle if the fed were winning in its war on inflation, at that point what would happen is the fed would take the brake off the -- well, they would stop trying to slow the darn thing down maybe they would even tap the accelerator, breathe new life into the economy we actually wanted to go so far as to slow it and then make it go faster. we're not there yet at all yes, the fed's making the least progress on this front and the one that's most right about that's not doing well at all is wage inflation. they want to soften up the labor market, and it's just not happening. not at all not at all you're going to hear it later. it's very rare there are places where wages are being held back. last night i told you the market could roar as long as we had no central bank-related news and we got good earnings from companies

like nike and fedex. but if we have to worry about the fed and we're getting bad earnings, that's a very different story. this morning my friend david tepper, great money manager, came on "squawk box" where he pointed out that inflation is not under our control, which means the fed's not done and neither are the rest of the world's central banks. last week christine lagarde, head of the european central bank and a very smart person, said she might have to do three 50 basis point rate hikes. the bank of japan indicated they may have to tighten. all these central banks they own a had the lot of bonds that's going to push up interest rates. every time you he see high economic data like the revised gdp or strong jobless claims it's obvious the friend will have to keep bringing -- >> the house of pain >> -- along with its compadres in the rest of the world i try not to be too binary in my thinking because this is a weird moment for the economy but wall street's perspective is very clear. the bull scenario is that employment gets weaker, spending

declines and corporate earnings don't get hurt too hard. the bear case is that employment stays strong, spending stays strong, and the earnings still get hurt again, that's from the perspective of the stock market. if you don't own stocks, the bear case might be better for you. today david tepper laid out the bear case. and you know, by the way, he's genuinely a very smart non-permabear. he's someone who's always looking for opportunities. but right now he doesn't see them so he's leaning short. that's a term he used. it doesn't mean he wants the market to go down or he expect it to go down. he doesn't see as many opportunities to make money on the long side. believe me, if tepper started seeing mass firings and low prices including stock prices he would turn bullish in a heartbeat, but neither the markets nor the economy are cooperating right now. and he would like to see interest rates come down because of a slowing economy, not

because of a short-term blip all day i heard people say tepper caused the sell-off like he's the grinch who stole christmas. but he simply stated the facts on a morning where the data was very bearish jobs are strong, wages are strong, and economy's strong but earnings in the largest sector of the stock market, tech, awful. hey, by the way, at the same time electric vehicles, that other engine of hope, they're stalling out as even the sainted tesla is finally offering discounts. in the past tesla didn't even need to advertise let alone cut prices for wall street it's an unholy situation to see the great retail stock that is tesla wither on the vine what gets the market back on track? first we need to see data that confirms weakness in the economy, real weakness lower gdp numbers, larger jobless claims, and yes, sadly mass layoffs and especially in technology which is way overbuilt and way too bloated. a big part of the problem is so many tech outfits don't seem to

understand the business cycle. old-fashioned industrial companies, do they ever know to hunker down. they know how to really quickly ahead of recession because they've seen the movie before retailers get forcibly hunk-yard down through layoffs and store closures but for the most part we're a service economy which includes a monster amount of tech that's fueled by advertising and consumer spending. many of these companies are clueless when it comes to firing people they've never been disrupted before they were the disruptors for heaven's sake. now suddenly the customers don't need them as much and they don't know what to do. we on this show want a soft landing. but the fed can't give us one unless the economy gets weaker the pilot can't land the plane on the tarmac safely if the fed can't stop the engines on time and that's what happened today now, a word about this fellow david tepper if the economy were rung colder and the stock market were lower sxirnt rates were higher but then headed lower things would be different

today we didn't see that, though we had the worst of three worlds hot economic data, weak corporate earnings and an honest broker calling out that things were going the wrong way for the stock market and for bonds worldwide. if we do get mass layoffs, they can crush wage inflation, which is the real issue, not commodity but wage inflation that's a different story but today we got some extremely low jobless claims, which means wage inflation is out of control. of course if you remember, market historian larry williams says that today and tomorrow are the best times to buy stocks ahead of the santa claus rally that tends to hit almost every year last night i thought maybe that rally came early but after today that's truly not the case while we could still get that seasonal bounce, obviously the market's got to be tougher to game in the end i don't know about santa. the truth is we're already beating inflation aside from wage inflation i worry, though, that that's not good enough for the fed, though. they probably won't stop until we have a lot more unemployment.

and apparently that might take much longer than we thought. so let me give you the bottom line do not shoot the messenger david tepper didn't need to steal christmas. it wasn't taken from the bulls it was the data that did and the central banks that don't seem to know how to finish their job. let's go to jake in florida, please jake >> caller: hey, jim. thanks for the call. merry christmas. >> merry christmas to you, jake. what's up? >> caller: hey, the tech industry is adjusting, wondering if this stock could be a buy at its current price. the company is dell technologies >> you know, this is a really interesting story because obviously the man behind dell, michael dell is one of the smartest people on earth at the same time it is a technology story and tech is just not the place to be. i think you have a very inexpensive stock on your hands. can you wait a year? if you can wait a year i think you're going to make very good

money there. let's go to dan in south carolina dan. >> caller: hey, jim. boo-yah. >> boo-yah, dan. what's going on? >> caller: the reason i'm giving you a call is that, you know, i am a club member and i have been following closely over the last couple of months and one day i believe that you mentioned walgreen's boots alliance -- >> yes >> -- not as a focus but you had mentioned it just in passing and i was looking up some of the stocks that you were talking about that were good buys. and when i pull it up it shows me four or five other stocks that are in that grouping. and i looked and i saw walgreen's boots alliance and i said, you know, this looks like something that's interesting they pay a 4.8%, 4.9% dividend >> yes >> and they've been down a little bit as the rest of the market has they're not a superstar earnings stock but with a good dividend i

think they're a solid company. and i think -- >> they are. >> caller: they beat earnings -- >> don't mean to interrupt there but they have a 5% yield they have roz brewer running it. i remember her at starbucks, how terrific she is. but the one thing i would say is eight times earnings, retail not doing that well, and they've got to fix this problem where you can't get into the different categories because there's lock and key on everything. and my walgreen's has become impossible to go to. just impossible. i'd rather go to amazon. i feel it gets there faster. let's go to craig in illinois, please craig. >> caller: hi, jim love your show, by the way >> thank you >> caller: my question is do you think walmart would buy zest echo arc to gain the patents on the zest product >> okay. let me just speak to walmart itself walmart very inexpensive stock

i've had trouble calling this company correctly because it's at 23 times earnings but it's a great growth vehicle i have said stay away from retail in general other than costco and the discounters, the full-time discounters like tjx and that's all i really want to do okay listen, i urge you don't shoot the messenger. david tepper didn't steal christmas from the bulls sometimes bad news is just bad news and hot data is too hot data on "mad money" tonight paychecks has its finger on the pulse of small business so where do we stand with the recession fears looming? they've got some great comments on it. so i'm going to talk to the ceo. and egg prices, i know, you know, they've surged on the heels of bird flu breakout impacting millions of chickens and turkeys. i'm learning more about what we're doing to fight the disease and why prices are going up. and a host of impressive metrics. i'm breaking down the headlines of the company's top brass with a stock that hit its 52-week

high today so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets send jim an e-mail to madmoney.cnbc.com. or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. ugh, this rental car is so boring to drive. let's be honest. the rent-a-car industry is the definition of boring. and the reason can be found in the name itself. rent - a - car? you don't want a friend. you want the friend. you don't want a job.

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on a day like today even companies that report good quarters are guilty till proven innocent just look at paychex, the payroll processor and human resources outsourcer mostly for small and medium size businesses this company's in a tricky situation. on the one hand paychex becomes

more profitable every time the fed tightens because they collect interest on payroll money while they wait for you to deposit. on the other hand, though, overall employment which is very strong right now but could turn ugly if the fed keeps raising interest rates because employment's strong. this morning saw a quarter with in line revenues better than expected earnings. very good forecast however, management also made some comments about moderating client employment level, bad news if you own paychex. we had to drill down on that but good news for the fed. about the only good news for the fed on otherwise very discouraging red hot economy day. remember jay powell will stop at nothing to cool things down these days paychex has a fabulous long-term performer but it's a tough stock to recommend if you think the labor market's about to fall off a cliff. that's why we need more clarity. so let's check in with japan gibson, the new president and ceo of paychex, took over in october, to get a read on the quarter. mr. gibson, welcome to "mad money. >> jim, it's great to be with you. >> well, thank you, john first i want to talk about the

numbers because sometimes the street doesn't understand. this was a very good quarter with excellent revenue growth, and i want you to give us the components of why you were able to beat the estimates so handily. >> yeah, you know, jim, there really was a solid quarter you said that revenue and earnings were beat by four cents. we raised guidance for the full year as well really on strong sales we had a record second quarter sales revenue. continued growth in our hr outsourcing businesses, double-digit, continued growth in our digital offerings, double-digit we're certainly seeing strong demand for our products and services resonating for our clients. >> what about business originations and number of employees? >> when you look at it, certainly business starts are down but they're still well above pre-pandemic levels. remember the last two years we've had historic levels of new business starts.

when you look at work site employees in our hr outsourcing business, that's growing by double digits. again, we just hit a milestone this past quarter. we now have 2 million of our clients' employees under management by our hr team. and that just continues to resonate you go back to fiscal year '19 for us, that's up 72% since then and we had a year in covid at 3% we're seeing a lot of growth in the employees under management or hr outsourcing business >> at one point your senior vice president, cfo, rivera, said something that was disconcerting. he said brian that as we've looked at quarter over quarter you continue to see a pace that is moderating vs. the previous quarter. i think that's a trend we think continues into the end of the fiscal year. so while it doesn't represent a sharp departure, we still see continuing signs of moderation as we go through the year. now, that did freak people out was that just something you recognized as they raised rates can happen or is that something

that's a pattern that you're very concerned about >> no, jim, i think what we were talking about there is we're talking about the flub of checks, as you can imagine, we a year ago had a lot of hiring going on people were very underhired. if you remember the great recession, that wasn't too long ago. and people were accelerating so if you look at the comparables quarter over quarter we had a lot of accelerating hiring and growth. people have got fully staffed and now they're moderating and they're being cautious about adding new employees when you look at our job index what we're seeing is moderation, not deceleration >> if you're the fed and you've been raising rates, do you think you would look at paychex's business and say you know what, we've got to slow this economy down, there's still too many people getting raises, there's still too many people who are employed, there's still too many jobs that can't be filled. would that be what jay powell would take away when he listens to you >> well, no.

i think what the fed needs to think about is that the rates, the increases they've been having are having an impact. we've seen actually for three months in a row in our wage index a moderation in wage inflation. and so what we're now seeing as we look at it with small businesses where they were worried about hiring and retaining, that's still in the top three. but the number one issue right now is inflation and now we see funding coming in. as you can imagine, as interest rates goes up, the cost of funding and capital for small businesses increases and that's why we're seeing them gravitate to us for our digital offerings to drive efficiency. we're spending a lot of time with our clients helping them get the employer retention tax credits. we've already helped 50,000 of our customers get billions of dollars in assistance. so those type of programs are something i think policy makers need to be thinking about as they're trying to tame inflation. >> are you surprised that with the very aggressive most recent rate hikes that more businesses that you deal with aren't

faltering or even closing? >> well, jim, i will tell you, small and mid-size businesses are very resilient they're very flexible. keep in mind they were very underhired they were figuring out how to do more with less they were driving efficiency all the time and so what we see is a very resilient small and mid-size business owners are figuring out how to use our technology. they're trying to figure out how to do more with less we're seeing the number of hours worked by the workers increase -- the last month was the highest we'd seen since march of '20 what we're seeing is small and medium size business owners know how to squeeze the most out of their business and they're doing that successfully. >> well, to me i don't know. i know the fed has to do what it has to do but when i listen to you i think we're in a reasonable course and it's going well, it should just stay that way and not push us over a cliff. i want to thank you, john gibson, president and ceo of paychex, for another great

quarter. it's great to have you back on the show >> great to be here, jim happy holidays >> same to you "mad money's" back after the break. >> announcer: coming up, does this stock have the legs to run up the charts? four legs good two legs bad just not in the way it was meant. stick with cramer.

we need to talk about the pandemic you haven't heard about. bird flu tens of millions of birds have now died, putting major upward pressure on food prices in the u.s. and europe. you want to know why the price of eggs soared it could be the avian influenza. how did it get this bad and what can we do about it to answer these questions we're consulting with one of the world's largest animal health companies. this is a great long-term story but like so many growth names tough time to own.

little more than 40% for the year with no real reason other than the market's gotten so tough. we also need to figure out if this is an opportunity let's dig deeper with kristen peck she's the ceo of zoetis. welcome back to "mad money." >> first of all, it's great to be back, especially on your new set. >> thank you >> it's great to be talking about an industry whose fundamentals remain very strong and about zoetis certainly given our innovation-led portfolio >> i thought about you immediately when i read this article about why are eggs high. you're not a politician. so you can actually tell me. the politicians actually argue but you know the facts i mean, these are difficult diseases and you can't necessarily just flick a switch and prevent them >> yeah, so just putting it in context, you know, back in 2018 the u.s. lost about 40 million birds to avian influenza 2022 it's looking like closer to 80 million birds so it's significantly up

really the question is what's changed. and i think that's fundamentally changed is avian influenza used to be mohr seasonal and now we're seeing it year round, which is having an impact. and that's why i think you're seeing industries like layers have been disproportionately impacted you look at the entire poultry industry it's probably less than 1% that's been impacted. but it's been a bigger impact on layers >> are you surprised at the price increases? do they seem reasonable relative to the problems? >> right now the u.s. has lost about 14% of the egg-laying chickens so it's not insignificant. and obviously supply-demand has certainly led to increases in prices it's really hard for producers when this happens. they really have three tools they can do. they can do eradication is what you're seeing, quarantine or biosecurity. but the issue really is that right now given the fact that most export countries around the world do not allow the use of vaccines and some interestingly even by law, eradication

quarantine and biosecurity are currently the only tools >> do they consult with you? because that would seem to be -- you're an honest broker. so theycould ask you look, wha should we do i even think the federal reserve should call you frankly because we're looking for people who tell the truth based on science. and the science says that we have real problems >> look, we're working in partnering very closely with the usda and with all of our customers around the world because this is not just a u.s. problem, as you know and we stand ready to help develop a vaccine should that be what our customers and what the government authorities want. but keep in mind that for most of these major export markets 25% of the market is exported. and if that became a ban the increase in prices could be be even worse so that's what's hard. it sounds like an easy fix, but it's actually a little more complicated. >> let's talk about companion animals which is why i've been recommending your stock since it was spun out by pfizer the pandemic made them grow, some people say double digit zmaz got to be great for you

what is your relationship these days with the vets, who are the ones that we come in contact with with zoetis and with the population in general? is it still increasing, people who want to have pets? >> well, we've seen a significant increase obviously in pets through the pandemic but the more fundamental and structural changes that we're seeing is more millennials and gen z are adopting pets. they're adopting more pets they're spending more time and they're spending more money on their pets and these are fundamentals so as you look at between 2018 and today, spend per visit and overall revenue in the vet clinics is up 25%. and these are great fundamental drivers for our three biggest franchises, in pet parasiticides, in dermatology and in pain. each one of those are significant. we're number one in derm, number one in pain and number two in paras. >> talking about the elizabethan hat we used to put our dog -- he said one day that would not be the case so we use your drug.

and why v whdoes it work >> first of all we have two drugs. apoquel. and sitoclone which is a monoclonal antibody. itch is not just an annoyance. it's a medical problem and helping pet owners understand that it is a medical problem and that really there's a great treatment and therapy has been a game changer. as you know that's now for zoetis alone over a $1.2 billion business for us and we are the market leader there. >> people should understand that you do have blockbusters i remember when that was only a couple hundred millions. what does it take, for the vets to figure out what you offer in the same way that you would have to go to a dermatologist to be able to explain to them look, we've got new things for skin? >> well, i think what really makes zoetis unique is our ability to build markets as you look at the dermatology market that was less than a $100 million market when we launched back in 2015 and now it's over a $1.2 billionmarket and that's what zoetis does. we work with the pvet but also

the pet owners to make sure they know that is a medical issue and that there is a treatment if they go to their vet. >> how about the tough ones? those of us who own pets, they can't talk but we know they're sick what do you recommend? because you have a lot of things for dogs and cats that are sick that we don't know >> and look, for some of that the first thing we say is bring your pet to the vet. there's lots of diagnostics. but there's other things, look at the pain area which is a significant growth driver for us. we have two monoclonal antibodies for pain. labrella for dogs and cilencia for cats most dog oeshz have a pretty good sense if their dog is in pain but for cats they hide it really well so what we're working on is helping a pet owner understand the signs of when their cat is in pain. we're using digital tools to do that to build the market because it is hard because dogs and cats can't speak. you need to make sure pet owners understand the signs and that

the vets are prepared to diagnose and treat >> as someone who wants this stock to go higher, and i have from the day it became public, is there a way it could be more clearer that some of these great drugs are zoetis drugs >> we're investing a lot more, and i need to say you've been great at giving us feedback over there that we need to get zoetis's name out there and not just the brand and this year thanks to feedback from you and many others all of our commercials now say zoetis so they understand simmp echl rica comes from it, simmperica trio, apoquel. we're making sure there's awareness of the great brands we have >> one day this market will reward your efforts. it can't do it right now because it's not doing it for anybody. it will be yours because it doesn't matter how bad the economy is, people love their pets and we want our livestock to be healthy so we don't get sick ourselves

kristen peck, ceo of zoetis. i think you think things are going to calm down you have the wind at your back because these are great secular trends "mad money's" back after the break. >> announcer: coming up, don't be a jelly cramer's got a jam session with a company that's probably been in your pantry next hello, world. or is it goodbye? you know, it seems like hope and trust are in short supply. [clap] now, as businesses we can blame and shame. or... [whistles] we can make a change. [clap] we can make work, work for our communities. create more equal opportunities. [clap] it's time for business to show its true worth. because it's not goodbye, world.

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when the averages roll over like they did today i always like to hunt for the stocks that manage to defy the gravitational pull of the market and there are some stocks like j.m. smucker, the packaged food company you might recognize as folger's coffee, jif peanut butter and of course

smucker's jelly along with big pet food brands like milkbone and meow mix i bet you have a lot of this stuff in your pantry, in your kitchen. the food stocks are some of the best safe havens in the world where we're worried about a fed-mandated recession that's how smouk smuckers get, this hit an all-time high today even as many of the other stocks just really wilted last month these guys reported a magnificent quarter, one of the best i've seen, aided by their ability to raise price and come up with new popular products they had an investment day where management laid out their long-term growth plans i liked it it's the right fit for this brutal market. the stock had a spectacular run over the past six months we have to ask ourselves if we're too late the chairman president and ceo of j.m. smucker company, mr. smucker, welcome back to "mad money. >> thanks for having me, jim >> a long time ago you told me one time you'd come on and it would be as if all the brands

were gaining share, not losing share, that you weren't static but you were going places. and you said not yet but it's going to happen. it did happen, didn't it >> it sure did and thank you. you know, really appreciate the recognition. it's reallycomes back to our ability to focus and even before the pandemic, you know, we were laser focused on optimizing our port portfolio, selling off assets that weren't working and really focusing on those brands like uncrustables and bustelo, dunkin', our pet snack brands like milk bone, focusing on those is what really led to our turnaround and growing over 70% of our portfolio in terms of maintaining a growing share. >> you've also achieved or exceeded guidance for i don't know how many companies that know this. 12 quarters on record. now, when you do that it's typically because you have both growth, actual growth in product

and price. do you have a lot of those, a lot of different items that are growing even as you've had to raise some prices due to inflation? >> yes, sir. we actually have had to very prudently pass along, you know, cost inflation to our customers and our consumers and we're careful about doing that but we've been able to do that while still having a very systematic and creative marketing that we put against the brands which have really connected them to consumers, all the while executing from our supply chain all the way down to the store shelf to make sure that our products are available whenever the consumer wants to buy them >> now, let's talk about the fact that you decided to exit some businesses. i wasn't sure whether -- private label dog food, natural balance. natural beverages. i thought these were good businesses but they didn't fit your profile. >> no, that's correct. in fact, some of those brands were not growing, or the categories had shifted

significantly. like if you think about our pillsbury baking mixes that we sold a couple years ago, that category wasn't a growing category and so we recognized that pet snacks and brands like uncrustables really was where the growth was going to come from and if we were going to capture that we had to invest there. so that really was what drove the shift in our strategy and allowed us to transform. >> now, at your very special investor day, which a lot of terrific things, you talked about pets and the special bond between pets and parents i love that. coffee category, incredibly strong i had no idea how much growth there had been and of course snacking which you also had the tailwind of people working at home. so tell us how those came about, how did you pick those categories, and is the runway still long for them because that will determine in many ways if the stock's going to continue its price movement >> yeah, let's take coffee as an

example. we have a leading brand in fo folger's it's a very mature brand but we also have fast-growing brands like dunkin' and bustelo. at the same time the consumer is premiumizing, they're also toward single serve with the keurig k cups. we are the first and largest partner nationally keurig had which allowed us to shift our portfolio strategically to where the growth is. so coffee's a perfect example p where we've been successful there. >> i want to talk about b bustehlo candidly i didn't know i was buying smucker i saw it at the store and i said well, this looks like a great foreign coffee that's terrific now, i always just drink followger's because when you're growing up you drink folger's. but bustelo was not something i thought would be in your portfolio. how did you take that leap >> well, we knew that what is unique about bustelo is its

authentic latin heritage you know, it was born in new york but it grew up in miami and we've been able to capture that authauthenticity our advertising is always bilingual. and where that brand is growing is actually among non-latino millennials. and it is growing across the entire country >> i actually do expect to see is it when i'm in a millennial household because that's what my kids are now, i have cats got dogs, got everything milk bone just a traditional meow mix traditional sxet & yet these still grow. >> yeah, it's been a great success story. you know, meow mix was off air for a long time and we brought back fresh new advertising that is relevant in today's culture and then milk bone in addition to obviously the branding and the marketing. we were able to premiumize that brand and take it into different

spaces like dental chews, longer-lasting chews but the core biscuit is still very healthy as well and growing share. >> i've got to hand it to you. it's very rare that someone comes to see me and says not yet but we're going to get there, and then you far exceed what you got. i want to thank you, mark smucker, president and ceo of j.m. smucker, sjm, grote portfolio, great leadership. thank you for coming on "mad money. >> thank you so much, jim. happy holidays >> same to you "mad money's" back after the break. >> announcer: coming up, what's on your mind, cramerica? give us a call the "lightning round" is storming the nyse. next

it is time it's time for the "lightning round" cramer's "mad money. calls one after the other. play until you hear this sound and then the "lightning round" is over. are you ready, skee-daddy? time for the "lightning round" on cramer's "mad money." start with jaden in california jaden. >> caller: hey, jim. how are you, buddy >> i am well how about you? >> caller: what a tough day. so i want to speak to you about brazilian company. it's fog seguro. yesterday new street research upgraded it to a buy at 17 sales are 2.7 billion. ebidta is 1 billion. and it's trading at one times -- >> we have to remember, it's from brazil. we have to remember it's from brazil therefore it's politically unstable i hate to be so broad sweeping

but it's like recommending a chinese stock. these are political issues and i don't want to get them in on "mad money. vance in virginia. vance. >> caller: hi, jim happy holidays from porter, virginia in norfolk. >> oh, wow all right. now we're talking. let's go what's up? >> caller: what to do with zim >> zim looks leek a great dividend play but the fact is these dividends are variable and can go down. and i don't want you to touch it i've been avoiding these stocks so far for people and it's been correct and i'm not changing my mind let's go to emil in new york emil >> caller: hi, jim this is emil from new york first-time caller. club member. >> how are you >> caller: i'm good. i used to watch your programs when the reruns were on 11:00 p.m. in new york years ago. >> i love that you know, my dad loved that too. i -- well, whatever. that went away how can i help >> caller: thank you for all the education. i learned a lot from you

i am in health care. in the middle of the pandemic i bought a stock in this company which is in teleconferencing i knew the company i started using it liked it a lot got more interested when they joined or took over the company called livongo which helps managing chronic disease more aggressively the stock made a top february of last year. around 300 dropped 30% in a week when amazon entered the field and has done nothing but going down steadily. i did not listen to you last year on this company and i sold -- >> i know. i said you had to sell it. i'll tell you why you had to sell it. first of all the competition is fierce secondly the acquisition was a bad one. teledoc. >> it is teledoc >> i remember when they bought livongo. soon as i heard that i said that is not a good company. i feel terrible about that i've used the product. i like it very much. but it is not a good situation i am so sorry. let's go to samir in florida

samer. >> caller: yes thank you for taking my call, mr. cramer and thank you very much for all the work you do. my question is in regard to global foundry inc symbol is gfs. >> i know global foundries well. we heard from micron today that the industry's a little softer a lot of that could be related to samsung but i have to tell you my take on global foundries is that it is connected with semiconductors and right now the complex is for sale and i never buck when an entire sector is for sale. let's go to doug in west virginia doug >> caller: hey, jim. how's it going pro petro holdings symbol p.u.m.p >> look, we have a very conventional approach. we like the oils that pay big yields because they have variable dividends and i'm going to suggest that

you buy pioneer. pxd. that's the best one at these prices because they want the highest yield in the s&p and let's go to don in texas don. >> caller: hi, jim >> how are you >> caller: i'm a long-time listener and first-time caller >> okay. good to have you >> caller: and i want to talk to you or want you to talk to me about a 101-year-old transportation, marine transportation company that does a lot of work on the mississippi and gulf intercoastal canal. it is getting ready to get involved in -- >> and what's the stock? what stock >> caller: the stock is kirby corporation. >> oh, okay. it's a barge company it's good. it's expensive it's too expensive it's a great idea. but you can buy that stock more cheaply if you just wait and that, ladies and gentlemen, is the conclusion of the "lightning round"! you ok, man? the internet is telling me a million different ways i should be trading.

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nobody likes it when institutions go rogue. didn't like it with theranos with its phony blood testing technology horrified employees leaked everything to both the government and the press if they hadn't for all we knew the fraud could have kept going on for years now we have an even bigger fraud. but it has a lot in common with theranos i think let's face it, the reason theranos could get away with its

fake blood testing technology was because of its pedigree. specifically a stanford pedigree they had incredible connections. their board of directors was filled with former cabinet members but no real experts on medical technology now with sam bankman-fried at ftx we have a similar kind of fraud. no need to say alleged now that he's basically admitted it and his co-conspirators have pled guilty it's like the financial version of theranos. spf's parents were stanford professors he went to m.i.t his lieutenant was another supposed genius from m.i.t also the daughter of m.i.t. faculty members. like elizabeth holmes these kids had everything going for them, everything you want to be, everything that i want to be, your kids want to be everything they had everything. except honesty allegedly ftx did all sorts of things with other people's money that were so illegal it's almost frightening. we're talking about nearly four years of getting away with financial murder just because

they could their credentials including this he worked at jane street, a very smart hedge fund, indicated to investors they were fully vetted and good to go but here's where the rubber hits the road the cryptocurrency world despises regulation. they disdain it like it's some sort of weird obstacle to the future, like it's the enemy of financial innovation and anyone who wants more regulation must be a luddite unfortunately, an industry with no regulation is a fraudster's paradise from the looks of things sam had a touch of alchemy to him and together with caroline they created a lot of money out of thin air and they got away with it for years because supposedly forward-thinking people in the government figured it was good, we were innovators the weird thing is right now at this very moment there's a lot still of these things going on crypto outfits are creating money all over the place and others are going along with it the money as far as i can tell is really only useful for ransom payments or money laundering because no real banker or

retailer is taking it anymore. the s.e.c. knows this and wants to do something about it but they still haven't put an end to the nonsense we need to sweep every one of these guys ought to get docked to get the midnight knock on the door i thought they'd act quickly after the kingpin of this phony crypto edifice had admitted to bilking everyone now maybe this is a bernie madoff situation maybe it is a one-off scoundrel that wasn't tied in with anybody else but i doubt it i think this kind of thing is endemic in crypto because everybody in crypto says regulation's unnecessary and the regulators are a gang of fools they think, stay away. of great financial innovation. there's a whole crypto ideology that's about escaping from government control and it doesn't exactly lend itself to law-abiding behavior plus if ftx hadn't gone under they'd still be getting away with it. if these people think they can get away with financial murder some of them of course will continue committing financial murder so if the regulators don't speak up soon and end this unregulated charade, then people will keep getting robbed

believe me, if you're a true believer in crypto there are more sam bankman-frieds out there who see you as nothing more than a willing mark don't let them con you out of your money and don't count on the government to save you i like to say there's always a bull market somewhere. i promise to try to find it for you right here on "mad money." i'm jim cramer see you tomorrow sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪♪ first up are heather murphy-monteith and andy hurwitz, with the next hot thing in dance clubs. hello. i am heather murphy-monteith. and my name is andy hurwitz. we are here today to offer you 10% equity in our company